mark zuckerberg, facebook, getty

Photo: Justin Sullivan / Getty Images

Facebook just filed an amended S-1 revealing that it intends to  make available 337 million shares at an expected IPO price between $28 and $35.Facebook is selling 180 million of the shares, which would let the company raise between $4.9 billion and $6.3 billion. Other shareholders, including Mark Zuckerberg, are selling the remaining 157 million shares.

Facebook has also allotted an additional 50 million shares in case of higher-than-expected demand.

In total, Facebook will have 2.14 billion shares outstanding, including both class A stock (the kind that’s going on sale and has one vote per share) and class B stock (reserved for Mark Zuckerberg and other insiders, with 10 votes per share, allowing Zuck to keep voting control of the company).

That means the company is seeking a valuation between $60 billion and $75 billion — significantly lower than the Wall Street Journal reported earlier today, and a lot lower than the $100 billion figure that was being floated around earlier this year.

If restricted stock units and unexercised options are counted, Facebook will have issued more than 2.75 billion shares, making its value more than $95 billion.

The lower valuation makes sense, as Facebook’s revenue growth seems to be decelerating. As Josh Constine at TechCrunch points out, Facebook showed a quarter-to-quarter decline in revenue between the end of 2011 and the first quarter of 2012 — that’s normal for larger companies, but Google didn’t show a similar kind of decline until it was showing sales of about $20 billion per year.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

facebook ipos sai-us